Guideline Value for KULATHANKARAI STREET

Kulathankarai Street guideline value

The current guideline value of Kulathankarai Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Arumbakkam village and falls under the Kodambakkam SRO. The land classification for this area is Residential Class V Type - I.

How the guideline value of Kulathankarai Street has changed

The guideline value for Kulathankarai Street has seen several revisions over the years. In 2002, the value was Rs 429 per sq.ft, which increased to Rs 473 per sq.ft in 2003, marking a 10% rise. The value then rose significantly to Rs 700 per sq.ft in 2007, reflecting a 48% increase. Following this, the value surged to Rs 3,000 per sq.ft in 2012, a remarkable 329% increase. However, it dropped to Rs 2,010 per sq.ft in 2017, showing a decrease of 33%. The value then increased to Rs 3,000 per sq.ft in 2023, before reaching the current figure of Rs 3,300 per sq.ft in 2024, which is a 10% increase from the previous year.

There are no figures available for this street in the revisions for the years not mentioned above. The overall change from 2002 to 2024 shows an increase of 669% in the guideline value.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 16,500 per sq.ft, with a median value of Rs 6,000 per sq.ft. Kulathankarai Street's current guideline value is below this median.

• Kulakarai Lane: Rs 3,300 per sq.ft (2024)
• Krishnamurthy Street: Rs 3,300 per sq.ft (2024)
• Kolaperumal School Street: Rs 7,100 per sq.ft (2024)
• Kavitha Street: Rs 4,400 per sq.ft (2024)
• Kannayiram Street: Rs 3,300 per sq.ft (2024)
• Kannappan Nagar: Rs 5,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kulathankarai Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kulathankarai Street?

The Sub Registrar Office that covers Kulathankarai Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Arumbakkam

The guideline value is a critical factor in the registration process when buying or selling property in Arumbakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate revenue from property transactions.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately and legally, providing protection for both the buyer and seller.

Frequently asked questions

What is the current guideline value of Kulathankarai Street?

The current guideline value of Kulathankarai Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 429 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 669%.

What is the land classification for Kulathankarai Street?

Kulathankarai Street is classified as Residential Class V Type - I.

Where can I find the Sub Registrar Office for Kulathankarai Street?

The Sub Registrar Office for Kulathankarai Street is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is the stamp duty calculated for properties in Kulathankarai Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 33,00,000, the stamp duty at 7% would be Rs 2,31,000.